Top trading calls by Chandan Taparia of Anand Rathi

Here are a few trading ideas from Chandan Taparia of Anand Rathi

NILKAMAL: BUY

It negated the negativity of last four trading sessions and moved above its 50 DMA with rising trading volumes. It took support at its rising support trend line and edged higher towards its 38.2% retracement levels of its recent fall witnessed in previous week. Overall trend of the stock is positive and recent decline gives a fresh buying opportunity with better risk reward ratio. Thus recommending buying the stock with the stop loss of Rs 1165 for the upside target of Rs 1270 levels.

IRB INFRA: BUY

It has been consolidating in a broader range Rs 210 to Rs 270 levels from last one year and the support is intact even after the volatility in the broader market. It has turned from the lower band of the trading range from its oversold territory and is showing the potential to move towards the higher level as holding the gains even after the market weakness. Thus recommending buying the stock with the stop loss of Rs 218 for the upside target of Rs 241 levels.

ULTRATECH CEMENT: BUY

The stock has taken multiple support near to Rs 2570 zone and is firmly holding the gains even after the weakness in the broader market. It is turning from the lower band of the trading range and closed above its immediate hurdle Rs 2650 zones and has potential to outperform the broader market. Thus recommending buying the stock with the stop loss of Rs 2590 for the upside target of Rs 2795 levels.

VEDANTA : SELL

The major trend of the stock is intact to weak as it has been falling down from last four weeks. It witnesses sustain selling pressure and is now at its seven years low levels. The weakness now is triggered in the counter because of liquidation of long position. One can sell the stock on bounce back move with stop loss of Rs 67 for the downside target of Rs 59 levels.

Disclaimer : We are suggesting all these stocks to our clients but no personal holdings.